Hi,
Does anybody know anything about Pinnacle Development Partners, LLC? I saw their ad in Newsweek and the return they promise investors for buying Atlanta foreclosures sounds too good to be true.
Thanks!
As usual. it's hurry up and wait. As far as most of us were led to believe, if there were no disputes as of Aug. 13. the checks would start going out. I just received an email from Shuwanda Sloane saying the judge hasn't even signed the paperwork to ok distribution. She said to check back in a WEEK or so! Whatever! Can anyone just get this started? Nobody will ever give an exact date to expect anything!
Please be advised that we are waiting on Court approval to make the distribution. No funds will be distributed until the Court has approved the distribution. The procedures were outlined in the Plan the Court approved in March which provided a time period for anyone to object.
The Receiver's office has not provided anyone with information that the Court has approved the distribution or given any exact date of when the checks will be mailed. We are waiting for the Court to approve and once the order is entered we will have over 1,600 checks to cut and get in the mail.
We will get the checks cut as soon as possible after the Court approves the distribution.
Is anyone else having trouble getting into this forum?
I believe you have to log into biggerpockets as a user to view pinnacle forum. Any other way it won't let you into this forum. Hope that helps. Make it a good day. :D
I checked the "log me in immediately" box, and that helps.
Very much hope the courts will authorize our distribution this week -- like, today! I can't see why there's so much delay; this seems a no-brainer for any judge worth his salt.
In a letter from Hays dated June 8, I was told that after 45 days the courts would take 2 weeks to weigh in. Then August 13 was declared "THE" date. Now it's still dangling. I realize that this is not Hays' fault or responsibility. I just don't get why it's being dragged out. Maybe just the nature of the red-tape legal beast? Any thoughts out there?
just get the judges name and edmail the judge and the court with your concern.... OR let them do their job and be thankfull we are seeing anything. Just google ponzi and see how many scheems end up with nothing.. " And by the supossably my accounting was off per showanda " with my earlier blog and my friend who wouldn't do the right thing with his account. He said to me that it was time for to be a winner not a loser. Well I feel he will is a loser for not doing the right thing.. Wish you well RICH !!!! I told showanda I wouldnt blog this anymore but right is right and wrong is wrong.. I had to let you all know I said I would
Thanks, James -- You've provided information that is worth knowing.
I agree, on the basis of what you've written, that making waves does NOT appear to be in our interest. And I will not encourage it.
That being said, I don't feel a stitch of sympathy for judges plowing through "pages of jargon" -- it's their job and their training. All professions have jargon, and fraud is not complicated!
It is in no one's interest to drag this procedure out. Most of us work on a deadline. Why is the legal system exempt?
Thanks again for sharing your expertise with us in this forum. I hope that our dialog is helpful to other investors.
When you say you are a "Contractor-Investor" do you mean you invested in Pinnacle?
Also: if you are comfortable doing so, would you hazard any guess about when we might receive our checks? Is it realistic to say mid-September?
To: **********
James, Thank you very much for stating that:
[size=18]Every call, e-mail and update Hay's firm has to address just costs the investors more.[/size]
We need to continue to emphaize this. I have no problem letting all contact with Hays go thru you to aid in reducing contact with them and additional costs to us investors. God Bless.
James, Thank you for your clear-headed advice, and for getting involved in this case. Some of us have been stretched out and waiting for any news for quite a long time. Do you have any guess as to what our final settlement might actually be? :beer:
I'm glad you're optimistic about the outcome, but it's driving me crazy to wait like this. I work in a deadline-driven field, and don't have the luxury of chewing my cud like a cow in a pasture when millions of dollars are riding on something. If I were one of these judges I couldn't face myself in the mirror, knowing how many people were at the mercy of my convenience.
Good thing that Hays and his team have friendly relations with the courts.
They miscalculated my amount and I just let it go; I didn't want ANYTHING to delay my getting the distribution because I need it now.
I'm glad you're optimistic about the outcome, but it's driving me crazy to wait like this. I work in a deadline-driven field, and don't have the luxury of chewing my cud like a cow in a pasture when millions of dollars are riding on something. If I were one of these judges I couldn't face myself in the mirror, knowing how many people were at the mercy of my convenience.
Good thing that Hays and his team have friendly relations with the courts.
They miscalculated my amount and I just let it go; I didn't want ANYTHING to delay my getting the distribution because I need it now.
I wish the courts could feel our urgency.
the feeling is mutual, the waiting is a torture for me and my family. especially now that I need to pay the bills. Please hurry! :cry: :cry:
Also -- where is everyone these days? California, Sammy, Vince -- how are you all?
Still here, just BUSY! I have my hands full at work and home so I don't have too much time to check in lately. Right now it's all in the judge's hands and there's not too much to to to speed things up. My biggest concern earlier was that Hays wasn't taking care of things on his end. He's proven otherwise to me, so I'll just ride out the waiting for the courts. Hopefully the objections don't slow things down more.
YEP I'm still here too. I didnt realize I was so popular !! :D :D
Just watching the game from the sidelines right now. Not much to say until the judge strokes that pen!!!